258.
| (1) On hearing a winding-up petition the court may dismiss it, or adjourn the hearing conditionally or unconditionally, or make any interim order, or any other order that it thinks fit, but the court shall not refuse to make a winding up order on the ground only that the assets of the company have been mortgaged to an amount equal to or in excess of those assets, or that the company has no assets. |
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| (2) Where a winding-up petition is presented by members of the company as contributories on the ground that it is just and equitable that the company should be wound up, the court shall, where it is of opinion that
| | (a) the petitioners are entitled to relief either by winding up the company or by some other mean ; any | | |
| | (b) in the absence of any other remedy it would be just and equitable that the company should be wound up, | | |
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| (3) Where a winding-up petition is presented on the ground of default in delivering the statutory report to the Registrar or in holding the statutory meeting, the court may-
| | (a) instead of making a winding-up order, direct that the statutory report shall be delivered or that a meeting shall be held; and | | |
| | (b) order the costs to be paid by any persons who, in the opinion of the court, are responsible for the default. | | |
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Sri Lanka Consolidated Acts